Bangladesh apparel export earnings rise 4.35% from January to November 2023

Apparel exports from Bangladesh saw earnings increase by 4.35% from January to November 2023 while earnings in numerous other nations declined. Bangladesh also saw its garment exports to non-traditional markets increase in double digit figures in the same time period. 

From January to November 2023, garment exports from Bangladesh to other nations totalled $42.83 billion, Apparel Resources reported. The increase in exports was mainly fuelled by shipments to non-traditional markets, markets outside of the US, Canada, the UK, and the EU, according to the country’s Export Promotion Bureau. 
 
Bangladesh’s garment exports to non-traditional markets increased by 22.53% from January to November 2023, compared to the same time period in 2022. However, the country’s garment exports to Europe increased at a far slower rate of 2.28%, according to the Bangladesh Garment Manufacturers and Exporters Association.

Bangladesh’s total ready made garment exports, comprising knitwear and woven garments, totalled almost $47 billion in the 2023 financial year, according to data on the Export Promotion Bureau’s official website. The government’s export target for the category for the 2024 financial year is $52.27 billion. 
 
The country’s leather and leather goods industry saw exports reach $1.2 billion in the 2023 financial year. For the current fiscal, the government has set a target of $1.35 billion for the sector.